Sterlings Working Both Sides Of The Street: Donald Looks To Sue, Shelly Looks To Sell

((HT: KTLA-TV/ESPNLA))

First, from KTLA's Christina Pascucci, via her Twitter:

#EXCLUSIVE #BREAKING I've learned #DonaldSterling plans to sue @NBA and will likely file suit by end of week

Filed through his attorneys, Blecher, Collins, Pepperman, and Joye the complaint involves the desire for a jury trial on a complaint of "Violations for Denial of Constitutional Rights, Breach of Contract, Antitrust Violations, Conversion, and Breach of Fiduciary Duty" whatever all that means...

At the same time, Shelly Sterling is looking to have all letters of intent in house by the end of business eastern time today and is ready to have Bank of America vet all serious bidders by the end of Thursday.

The LA Times James Rainey has word that Shelly Sterling's term letter calls for a 100-percent stake for the new owners- apparently, giving the impression that she will not be around. All that despite Donald Sterling's intent to stay owner and fight the NBA and his wife in the battle for ownership.

Getting all this...???

Rainey lists the main four to pay attention to as:

A Guggenheim group that includes Oprah Winfrey, Larry Ellison, and David Geffen
A Grant Hill-involved group that includes Ares Management's Tony Ressler and Tribune chairman Bruce Karsh
The Steve Ballmer group
A group of middle eastern investors

Bill Simmons, via his Twitter, maintains that Guggenheim will announce their intent Thursday, but the larger issue may be that the Sterlings want $300-million non-refundable up front of the purchase. That would be some kitty for lawyers as Donald Sterling (and, possibly, Shelly independently) would be in court.

Here's the Dean with Donald Sterling's initial response to the NBA's point-of-view from last night
((HT: NBC Los Angeles))


And, yes, it is now somewhat official as Ramona Shelburne confirms on her Twitter through Blecher that Donald Sterling has changed his mind since the letter to the NBA was sent a week ago.

Blecher says that "On May 22 that’s what [Sterling] wanted to do. But as time has evolved he’s come to a much more hardline position."

Dodgers Now Out Of McCourt's Hands

((HT: MyFoxLA))

And there was much rejoicing...

Magic Johnson now becomes the league's first African-American owner...
And, for that, the HQ likes the sale a whole lot...

Here's Bob DeCastro...

Dodgers Sale Final...Magic And Co. Take Control : MyFoxLA.com

Talk about two people who got out alive...

Frank McCourt is expected to clear close to a billion dollars in net profit.

Jamie McCourt was wired her $131-million divorce settlement Monday from the Dodgers' sale proceeds...

Maybe their safes can catch on fire or something...

Judge OK's Dodgers Sale

Now if only the court could find a way to get rid of Frank McCourt somehow, then the situation could really get moving forward.

Here's FOSG Liz Habib

Judge Approves Dodgers Sale: MyFoxLA.com

But, just because Judge Kevin Gross says he has seen the agreement for $2-billion doesn't mean other parties are still chapped and have reservations.

Fox Sports has issues since they want confirmation that there isn't any Time Warner Cable money involved and that Time Warner and the Dodgers don't have an agreement in place to be the host broadcaster in 2014.

Major League Baseball has also filed an objection, saying the Dodgers (meaning McCourt) haven't put enough down on their debts (the intimation there being that McCourt's priorities are himself and his divorce proceeding and not the team).

So much for a quick ending- even if the sides think things will be done by the end of the month.

Dodgers Sold For 2-Point-1 Extra Large

To Guggenheim, Magic, and Stan Kasten...

Who FOSG Mark Harmon admits has more lives than a cat...

And Frank McCourt got out of this alive with an interest in the parking lots...
Absolutely typical...

Here's FOSG Liz Habib...
((HT: MyFoxLA))

Dodgers Sold To Magic Johnson, $2.1 Billion! : MyFoxLA.com

Guggenheim came to the table with $1.6-Billion in cash equity and paid another $500M for the team. According to Mark Cuban, that wasn't worth half of what the group paid for it...

The Mets are loving life right now since the value of their hemorrhaging franchise just went up- and everyone's value just went up... talk about living in the right neighborhood...

McCourt paid $430 million in 2004 for the Dodgers, the Stadium and the parking lots from Fox. The team had about $50 million in cash at the time, but by the time McCourt filed for bankruptcy, the team had a $579 million debt.

Well done, dude...

Here's the KABC-TV version with Christina Salvo...